Full review
Axos Bank® Basic Business Checks
And that
Axos Business Premium Savings Account
This online-only bank also offers other business accounts, including a high-yield business checking account and a business money market account, but their lower interest rates and higher balance requirements make them inferior to other banking options.
Axos Bank® Basic Business Checks
is a free business checking account with 24/7 customer support, fee-free cash deposits, and no nationwide ATM fees (Axos automatically reimburses third-party ATM fees).
Business Premium Savings Account
is an industry leader and one of the best business savings accounts on the market.
4.01%
No APY, no monthly fees, no minimum balance requirement.
Axos Bank® Basic Business Checks
and
Business Premium Savings Account
The star ratings above are specific to your Axos Basic Business Checking account.
Is Axos FDIC insured?
Axos also offers insured cash sweep services that can extend FDIC coverage from the standard $250,000 per depositor per institution up to a maximum of $240 million.
Axos Business Banking is perfect for small business owners who:
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You want a free business checking account and/or a high-yield business savings account.
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Fee-free ATM access needed across the US
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I have a deposit balance over $250,000 and would like an insured cash sweep account.
Blue Vine Business Check
There is no monthly fee,
2.00%
APY (terms apply): Bluevine's premium accounts, Bluevine Plus and Bluevine Premier, allow businesses to earn even more (up to 4.25%). Both have higher monthly fees, but these can be waived if you have sufficient cash flow and deposits. Bluevine accepts cash deposits, but there are limits and fees to consider if you plan to use this feature regularly.
Axos Business Banking Overview
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Axos Bank® Basic Business Checks |
Axos Business Premium Savings Account |
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Monthly fee: |
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Minimum opening deposit requirements: |
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Annual interest rate: |
none. |
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transaction: |
Unlimited. |
Up to 20 transactions (debit, credit, and deposit items) per month. Additional transactions cost 30 cents each. |
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Bonus: |
none. |
How to Open an Axos Business Bank Account
You can open an Axos business checking or savings account by completing and submitting an application on the bank's website. To qualify, you must be a U.S. resident with a verifiable U.S. address and Social Security number.
Axos Business Premium Savings Account
This does not include checks or debit cards.
What you need to open an Axos business bank account
Please note that Axos requires up-to-date email and physical addresses (PO Boxes or registered agent addresses are not eligible) for the business and all owners and signatories in order to process your application.
Axos Welcome Bonus
Business owners can earn up to a $400 welcome bonus.* Open a business checking account by June 30th and use promo code NEW400 when you sign up to earn up to $400.*
”
To receive the bonus you must meet the following requirements:
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Complete 10 POS transactions each month with your Axos Business Debit Card. Transactions must be $3 or more in value.
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Set up bill payments and connect to Axos Basic Business Checking or Business Interest Checking.
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Maintain an average daily balance of $25,000-49,999 for the $75 payment, or $50,000 or more for the $100 payment, and you'll earn a total of four bonus payments over five statement cycles.
What makes Axos Business Accounts great?
Unlimited ATM Fee Refunds: With your Axos Business Checking Account, you can use any ATM in the U.S. without incurring Axos fees, and if the ATM owner charges you a fee, Axos provides unlimited domestic ATM fee reimbursement for both your Business Checking Accounts.
Axos Business Premium Savings Account
Great option!
4.01%
APY has no minimum deposit or balance required to earn interest. Axos does not impose any caps on transactions.
Business Premium Savings Account
If you exceed this limit, a fee will be charged, see below for details.
Up to $240 Million in FDIC Insurance Coverage: Axos is part of the IntraFi Network, a consortium of FDIC-insured banks that offers insured cash sweep services to businesses and individuals with large deposits. Sweep accounts opened with Axos have access to up to $240 million in FDIC insurance, far more than the industry standard, even for ICS accounts.
June 30, 2024
To qualify for this promotion:
Where Axos Business Accounts Fall Short
Relay Business Check
offers direct integrations with a number of tools, including QuickBooks Online, Xero, Stipe, PayPal, Venmo, and Square.
Lowest rated business banking apps: The Axos Business banking app has received dismal reviews on iOS and Google Play, with the main complaints being a lack of features (outside of the absolute basics) and frequent bugs that cause the app to crash. The Axos Business app also doesn't use multi-factor authentication, a basic security feature you'd expect from a business banking app.
American Express® Business Check
— A free, high-yield business checking account with a highly-rated business banking app that lets you accept credit card payments from customers and gain cash flow insights.
American Express® Business Check
But? Please deposit cash.
Axos Bank® Business Rate Current Account
($10/month) Max
1.01%
The APY is well above the national average, but you can earn more interest with Axos' competitors.
Blue Vine Business Check
For example, has no monthly fees and offers one of the best APYs.
Earn 2.00% interest on account balances up to $250,000. Terms apply.
*TerMeterss OnepplYeah. For more information on eligibility requirements, please visit the Axos website.
